Traction Battery Market Size - Industry Insights, Top Trends, Drivers, Growth and Forecast to 2024
Category: #tech  By Partha Ray  Date: 2019-09-09
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Traction Battery Market Size - Industry Insights, Top Trends, Drivers, Growth and Forecast to 2024

Market Study Report, LLC, has added a research study on 'Traction Battery market' which offers a concise summary regarding market valuation, market share, regional spectrum, revenue estimation and SWOT analysis of this business vertical. The report further brings up key insights pertaining to growth opportunities and challenges to be experienced by key industry players, while emphasizing on their present competitive setting and growth plans for the 'Traction Battery Market'.

Traction Battery Market is predicted to exceed USD 65 Billion by 2024. Increasing demand for electrical vehicles driven by favorable government regulations and tax incentives intended to promote these technologies will drive the industry growth. Shifting consumer focus toward electrical forklifts along with rising investments in battery technology will encourage the product adoption. For instance, as per the International Energy Agency, the overall sales of new EVs presented a growth of around 54% when compared to 2016 with an increase of 1 million units.

Request a sample Report of Traction Battery Market at: https://www.marketstudyreport.com/request-a-sample/1251691?utm_source=ReportsGo&utm_medium=VS

U.S traction battery market was over USD 3 billion in 2017. Rising government mandates pertaining to limit carbon emissions and increasing energy efficiency will augment the industry growth. Furthermore, introduction of several policies, regulations & incentives in order to commercialize EVs will stimulate the product adoption. For instance, in 2017, the U.S. electric forklifts accounted for more than 60% of the total lift truck.

 

High charging efficiency along with declining costs will drive the Li-Ion traction battery market. Long service life, lightweight packs along with lower self-discharging rate makes the battery suitable for EV applications. In addition, their essential role in the electrification of transport sector further increases their dominance across the electric vehicle segment.

 

China traction battery market is anticipated to grow over 11% by 2024. Rising concerns to curb greenhouse emissions coupled with favorable policy adoption will support the industry growth. Increasing investments along with tax credits to encourage the sales of these vehicles will substantially facilitate the product deployment. For instance, the government published 39 policies since 2009, 50% of which were pertaining to EVs. In addition, the Ministry of Finance in China approved around USD 15 billion to assist new EV development from 2011 to 2020.

 

Rapid industrialization driven by growing penetration of ecommerce along with the developments in the material handling technology will positively influence the forklift traction battery market. Lower operating cost and ability to contribute to limited emissions will complement the business outlook. In addition, rising GHG concerns will increase the adoption of electric forklifts and will further enhance the industry growth.

 

Traction battery market will witness an appreciable growth on account of rising awareness toward limiting emissions generated from the transport sector. Favorable government initiatives including tax incentives, rising investments of automobile manufacturers toward electric vehicle development will facilitate the adoption of traction batteries.

 

Prominent industry players across the traction battery market includes Samsung, Johnson Controls, BYD, East Penn Manufacturing, Hitachi, LG Chem, Systems Sunlight, Panasonic, Enersys, Amara Raja, Exide, GS Yuasa, Mutlu, Hoppecke, Banner Batterien, NorthStar Battery, Midac, Haze Batteries, amongst others.

Ask for Discount on Traction Battery Market Report at: https://www.marketstudyreport.com/check-for-discount/1251691?utm_source=ReportsGo&utm_medium=VS

Some of the TOC of Traction Battery Market report includes:

Chapter 1. Methodology

1.1. Methodology

1.2. Market definition

1.3. Forecast parameters

1.4. Data sources

1.4.1. Secondary

1.4.2. Primary
 

Chapter 2. Executive Summary

2.1. Traction Battery industry 360 degree synopsis, 2014 - 2025 (USD Million)

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Mobility trends

2.1.4. Technology trends

2.1.5. Mode trends

2.1.6. End-use trends

2.1.7. Regional trends


Chapter 3. Traction Battery Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 - 2025 (USD Million)

3.3. Industry impact factors

3.3.1. Growth drivers

 3.4. Growth potential analysis

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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